One of my people I help with credit has just received a Texaco Pre Approved App last month from Associates. Possibly they are in a growth period and looking to expand. I would start out applying for the Texaco first, and then in 6-8 months try for the M/C.
Texaco Card Texaco/Associates sent me a preapproved application soon after I got my Capital One and Providian cards. There were no problems, and I got the card quickly enough. Then they sent me a second preapproved application, which was valid in spite of the existing Texaco card. I accepted, and the second card had a higher purchase limit and a much higher cash advance limit. Last week I got my first Associates bankcard application, for a Gold or standard Visa. That was about five months after my first Texaco card offer. The Visa had a 25.5% interest rate, so I passed on that offer. Since there was no annual fee, I may accept a similar offer if it ever suits my needs.
RE: Take the Offer I would take the offer inspite of the high interest rate. As long as the card is free, then your still gaining a trade referance, even if you never use the card!
